The dollar index (DXY00) this morning is up by +0.08%. The dollar today recovered from early losses and moved higher after T-note yields climbed on signs of strength in the US economy after weekly jobless claims were unchanged and the Apr Philadelphia Fed business outlook survey unexpectedly rose to a 2-year high. The dollar extended its gains based on comments from NY Fed President Williams this morning, who said there's "no urgency" to cut interest rates.
US weekly initial unemployment claims were unchanged at 212,000, showing a stronger labor market than expectations of an increase to 215,000.
